Stock Story -
Luxury department store chain Nordstrom (NYSE:JWN) will be reporting results tomorrow after the bell. Here’s what investors should know.
Nordstrom beat analysts’ revenue expectations by 4.3% last quarter, reporting revenues of $3.34 billion, up 4.8% year on year. It was a decent quarter for the company, with optimistic earnings guidance for the full year but a miss of analysts’ earnings estimates.
Is Nordstrom a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting Nordstrom’s revenue to grow 3% year on year to $3.89 billion, a reversal from the 7.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.73 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nordstrom has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Nordstrom’s peers in the general merchandise retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Macy’s revenues decreased 3.5% year on year, beating analysts’ expectations by 1%, and Dillard's reported a revenue decline of 5.2%, falling short of estimates by 1.1%. Macy's (NYSE:M) traded down 14.5% following the results while Dillard's was also down 9.5%.
Read the full analysis of Macy’s and Dillard’s results on StockStory.
Investors in the general merchandise retail segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Nordstrom is down 1.7% during the same time and is heading into earnings with an average analyst price target of $20.7 (compared to the current share price of $21.73).
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